Last update: Sept. 28, 2017
Media Release archive
Lawyers' Professional Indemnity Co. receives A rating from A.M. Best Co.
In its rating announcement, A.M. Best Co. commented positively on virtually all aspects of LPIC's operations: "The company's risk-based underwriting model has resulted in consistent profitable underwriting results which, when combined with stable investment income, have contributed to the steady internal growth of the company's capital and financial strength," said the A.M. Best release. "Through its prudent underwriting, sophisticated claims handling and effective reinsurance program, the company has developed a stable market for professional liability coverage in Ontario. In addition to managing claims, the company's focus on customer service, proactive risk management and its title insurance product, TitlePLUS, have provided a valuable resource to its covered lawyers."
In his response to the rating news, LPIC President Malcolm Heins said that both management and members of the LPIC Board of Directors are "delighted and gratified that LPIC has received such an excellent rating. This announcement is an affirmation of our vision and goals for LPIC. Financial stability, superior claims management, a strong customer focus and service excellence, innovative products and services: These are our own benchmarks for the company. To have as influential a company as A.M. Best substantiate both our goals and our track record is an important milestone for LPIC."
LPIC currently provides a comprehensive, flexible and responsive liability insurance program to more than 18,000 lawyers in Ontario. It also provides lawyers with a competitive title insurance product through TitlePLUS, its innovative title insurance/software conveyancing program, and offers excess liability insurance on an optional basis. LPIC is licensed in Ontario, Newfoundland, Nova Scotia, P.E.I. and Nunavut.
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.
On or about October 2, 2017